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Johnson Controls Q3 2011 Revenues Increase 21% to Record $10.4 Billion With Higher Segment Income

MILWAUKEE July 20, 2011 $512 million $357 million $0.52

$29 million $0.04 $51 million $0.07

Excluding non-recurring items, highlights for the company’s third quarter of 2011 include:

  • $10.4 billion $8.5 billion
  • $541 million $496 million
  • $383 million $367 million
  • $0.56 $0.54

Johnson Controls said it believes that using the adjusted numbers provide a more meaningful comparison of its underlying operating performance.

$400 million March 2011 Japan

Stephen A. Roell Japan

Mr. Roell continued, "We continue to benefit from our investments in growth. Backlog in our Building Efficiency business increased at a double-digit pace as we continue to gain share, especially across our HVAC equipment offerings. We have completed the acquisitions of Keiper/Recaro in our automotive business and EnergyConnect in Building Efficiency. We are confident that the expanded capabilities from these acquisitions will drive accelerated growth and profitability in the coming years."

Business Segments

$5.1 billion $4.2 billion March 2011

$1.8 billion $1.7 billion $2.8 billion $2.0 billion Asia $546 million $440 million China $936 million $780 million

June 20, 2011

$171 million Asia Asia $51 million China Europe $53 million $49 million

$1.4 billion $1.1 billion Asia

$163 million $135 million

$138.5 million Toledo, Ohio the United States Europe

$3.9 billion $3.2 billion Asia Asia Europe $5.1 billion Middle East Asia

$207 million North America Asia $20 million

North America

Q4 Guidance update

$0.75 $0.03 $0.02

New York October 12, 2011

"As we enter the final quarter of our fiscal year, we remain on track to generate record sales and earnings in 2011. We expect to see higher European automotive margins in our fourth quarter as the recent acquisitions become more accretive and as operational efficiencies improve," said Mr. Roell. "We will continue to make strategic investments that will help us create new competitive advantages and further outpace the growth rates of our markets. Our strong backlogs and continued market share gains should provide good momentum as we enter 2012. We believe we are positioned to deliver sustainable, profitable growth."  

FORWARD-LOOKING STATEMENT

November 23, 2010

Johnson Controls

Corporate Responsibility Magazine http://www.johnsoncontrols.com

JOHNSON CONTROLS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share data; unaudited)

Three Months Ended June 30,

2011

2010

Net sales

$ 10,364

$         8,540

Cost of sales

8,814

7,201

 Gross profit

1,550

1,339

Selling, general and administrative expenses

(1,094)

(895)

Net financing charges

(43)

(39)

Equity income

56

52

Income before income taxes

469

457

Provision for income taxes

89

31

Net income

380

426

Less: income attributable to noncontrolling interests

23

8

Net income attributable to JCI

$      357

$            418

Diluted earnings per share

$     0.52

$           0.61

Diluted weighted average shares

691

684

Shares outstanding at period end

680

673

JOHNSON CONTROLS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share data; unaudited)

Nine Months Ended June 30,

2011

2010

Net sales

$ 30,045

$       25,265

Cost of sales

25,607

21,467

 Gross profit

4,438

3,798

Selling, general and administrative expenses

(3,055)

(2,625)

Net financing charges

(124)

(117)

Equity income

183

156

Income before income taxes

1,442

1,212

Provision for income taxes

274

123

Net income

1,168

1,089

Less: income attributable to noncontrolling interests

82

47

Net income attributable to JCI

$   1,086

$         1,042

Diluted earnings per share

$     1.58

$           1.53

Diluted weighted average shares

690

682

Shares outstanding at period end

680

673

JOHNSON CONTROLS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(in millions; unaudited)

June 30,

September 30,

June 30,

2011

2010

2010

ASSETS

Cash and cash equivalents

$      335

$              560

$            908

Accounts receivable – net

7,094

6,095

5,452

Inventories

2,451

1,786

1,644

Other current assets

2,678

2,211

2,114

Current assets

12,558

10,652

10,118

Property, plant and equipment – net

5,185

4,096

3,706

Goodwill

7,093

6,501

6,217

Other intangible assets – net

822

741

695

Investments in partially-owned affiliates

952

728

766

Other noncurrent assets

3,259

3,025

2,584

Total assets

$ 29,869

$         25,743

$       24,086

LIABILITIES AND EQUITY

Short-term debt and current portion of long-term debt

$      657

$              737

$            727

Accounts payable and accrued expenses

7,433

6,548

5,928

Other current liabilities

3,064

2,625

2,377

Current liabilities

11,154

9,910

9,032

Long-term debt

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